2009-09-08

Baosteel cuts October prices

Deflation?
Baosteel said hot-rolled carbon product prices were cut by 300 yuan a ton, with hot-rolled low-carbon products falling by 200 yuan and, and cold-rolled prepainted steel sheet down 350 yuan.

Steel plate and most cold-rolled products remained unchanged, traders who work with Baosteel told Caijing.

Hu Yanping, an analyst from consultancy Umetal, told Caijing that the price cut reflects growing competition in the hot-rolled steel segment which is used mostly by the machinery industry, a sector which has not yet fully recovered from the economic downturn.

The company raised prices for three consecutive months beginning June.

However, the market has been on a downward slide since early August. The MySpic Index, consultant Mysteel's weekly monitor of domestic steel prices, fell from 165 on Aug. 7 to 134 on Sept. 4.

Mysteel analyst Xu Xiangchun said Baosteel still has room to cut prices further, as its prices are still far higher than the average market rate.
通货紧缩?宝钢下调10月钢价
《财经》记者从宝钢贸易商处获悉,9月7日,宝钢出台2009年10月碳钢产品出厂价格政策,在9月价格基础上,热轧品种中普碳钢下调300元/吨;低碳钢下调200元/吨;热轧酸洗下调300元/吨;彩涂普遍下调350元/吨;冷轧、热镀锌、电镀锌、镀铝锌、电工钢以及宽厚板的价格维持不变。

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